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Two months before the cliff - millions of Europeans cannot afford food and lodging after two months without income

3 monthes ago   |   By Bruegel

Despite state support, the COVID-19 crisis is wreaking havoc on households' finances across Europe. Millions of individuals have stopped working or had to substantially reduce their working hours because of health restrictions or suppressed demand. How many households in Europe could live without income for one or two months?
In a working paper, we used the 2017 wave of the European Central Bank Household Finance and Consumption survey to estimate how many individuals live in such vulnerable households among 342 million residents in 21 countries: Croatia, Poland and Hungary, and the euro...
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